https://www.taxtmi.com/caselaws?id=384271 The court upheld the validity of the notice of reopening of assessment for AY 2012-2013, citing discrepancies in business activities and unexplained cash credits. It determined that the reasons recorded by the Assessing Officer were sufficient to justify the reassessment, despite objections raised by the petitioner regarding unsecured loans and pending appeal for AY 2013-2014. The court emphasized that mere disclosure of loans did not prevent reassessment, leading to the dismissal of the petition challenging the reassessment notice. en-us Mon, 05 Aug 2019 00:00:00 +0530 Thu, 08 Aug 2019 10:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384271 The court upheld the validity of the notice of reopening of assessment for AY 2012-2013, citing discrepancies in business activities and unexplained cash credits. It determined that the reasons recorded by the Assessing Officer were sufficient to justify the reassessment, despite objections raised by the petitioner regarding unsecured loans and pending appeal for AY 2013-2014. The court emphasized that mere disclosure of loans did not prevent reassessment, leading to the dismissal of the petition challenging the reassessment notice. Case-Laws Income Tax Mon, 05 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384271